LAW ON INTERNATIONAL SALE OF GOODS What is CISG? The United Nations Treaty on Contracts for the International Sale of Goods (“1980 Vienna Convention” or shortly “CISG”) is an international agreement that was ratified 1980. It regulates the rights and obligations of the buyers and...
Is it Legal to Make Contract Based on Foreign Currency in Turkey? What Changed in the Turkish Law on Foreign Currency Contracts? The Turkish legal system underwent significant changes on September 13, 2018, affecting contracts in foreign currency. These alterations were introduced to stabilize the...
INCOTERMS 2020: Terms of Delivery for International Sale of Goods What are INCOTERMS 2020? INCOTERMS, an acronym which stands for international commercial terms, are standard terms published and trademarked by International Chamber of Commerce (ICC), for and used in international commerce, maritime law and basically...
SHIP MORTGAGE IN TURKISH MARITIME LAW Maritime Law plays a pivotal role in Turkey’s economy, with ships being central to commercial activities. Acquiring ships usually involves credit arrangements, with mortgages serving as primary security for such loans. This article delves into the intricacies of ship...
Escrow Agreements in Turkey What is an Escrow Agreement in Turkish Law? An escrow agreement in Turkish law involves a neutral third party, known as the escrow agent, who is entrusted with holding funds or assets from the buyer. This arrangement continues until the seller...
